# TriGemX Bio closes $94 million financing for Phase 3 migraine drug

_Published Friday, October 2, 2026 at 10:20 AM EDT · Capital · Latest · Tier 2 — Notable_

![TriGemX Bio closes $94 million financing for Phase 3 migraine drug — Primary](https://static.biospace.com/dims4/default/d32393a/2147483647/strip/true/crop/1120x630+40+0/resize/1440x810!/quality/90/?url=https%3A%2F%2Fk1-prod-biospace.s3.us-east-2.amazonaws.com%2Fbrightspot%2Fcc%2F88%2Fa9fddaf440db946b77e1d45d2e26%2Fbiospace-5.png)

TriGemX Bio announced it closed a $94 million financing to advance elismetrep, its investigational oral migraine treatment now in Phase 3 trials. The Column Group, TCGX and Viking Global Investors co-led the financing, with participation from additional investors.

Formerly Kallyope, the company is developing a drug that blocks TRPM8 channel activity. Its first pivotal trial and a long-term safety study are underway, with a second pivotal study scheduled to begin in October 2026. Initial Phase 3 results are expected in mid-2027. Elismetrep has not been approved by the FDA or any other regulatory agency.

## Sources

- [BioSpace](https://www.biospace.com/press-releases/trigemx-bio-announces-94m-financing-and-initiation-of-phase-3-trials-for-elismetrep-a-potential-first-in-class-treatment-for-migraine)

---
Canonical: https://techandbusiness.org/newswire/AX4nAOr7JFnB9B_ktcUET-
Published: 2026-10-02T14:20:04.589Z
Story chronology: 2026-10-01T14:06:19.176Z
Retrieved: 2026-10-02T17:03:34.510Z
Publisher: Tech & Business (techandbusiness.org)